Thanks, Roger, for your concise and well-reasoned opinion. I agree that the Fed did the right thing. I was scared. People with little knowledge can get spooked, and then it doesn't matter what the truth is--get out of the way of the crowd or you will get trampled. This doesn't mean that I'm glad the crying libertarians got their bailout, but it could have been worse for everyone if the Fed hadn't acted to calm the waters. And, yes, the Fed needs to continue to tighten, else the greedy and foolish will get back at it. It's going to be hard enough as it is.
Thanks, Roger, for your concise and well-reasoned opinion. I agree that the Fed did the right thing. I was scared. People with little knowledge can get spooked, and then it doesn't matter what the truth is--get out of the way of the crowd or you will get trampled. This doesn't mean that I'm glad the crying libertarians got their bailout, but it could have been worse for everyone if the Fed hadn't acted to calm the waters. And, yes, the Fed needs to continue to tighten, else the greedy and foolish will get back at it. It's going to be hard enough as it is.